Franchising Drives Your Local Economy

If you aren’t familiar with franchises you may be surprised to know just how significant to your local economy they are. Your favorite ice cream parlor? The fitness studio across the street from your office? That friendly landscaper that does your spring cleaning every year? You might be surprised to learn that they’re all franchises. A franchised business is owned by a local entrepreneur who has purchased rights to the brand, service and support systems of an established parent organization (the franchisor).

Franchising Drives Your Local Economy

According to a study by the International Franchise Association in 2018, there are an estimated 785,316 franchise establishments in the United States, employing over 8 million Americans. These businesses are expected to contribute as much as $800 billion into the economy in 2020, almost all of it at the local levels. Ranging across a diverse set of categories, franchises are an indispensable vehicle for small business ownership and job creation.

For prospective small business owners, there is an overwhelming range of franchise opportunities to explore. There are franchises in search of new owners in your city or town that align with almost every professional background or interest — and at a range of investment levels. We launched SmallBusinessStartup, in part, to help aspiring entrepreneurs discover the world of franchising and everything it has to offer. Take our Startup Quiz to find franchise opportunities that can help you unlock your dreams of small business ownership.

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